The-Uttar-Pradesh-government-cancelled-the-provincial-civil-services-preliminary-examination-after-police-arrested-three-men-for-taking-photographs-of-the-question-paper-an-hour-before-the-test-on-Sunday-and-circulating-the-photos-on-WhatsApp--Reuters-file-photo
The-Uttar-Pradesh-government-cancelled-the-provincial-civil-services-preliminary-examination-after-police-arrested-three-men-for-taking-photographs-of-the-question-paper-an-hour-before-the-test-on-Sunday-and-circulating-the-photos-on-WhatsApp--Reuters-file-photo

Facebook's Zuckerberg the new mobile king

Billionaire 29-year-old Facebook founder Mark Zuckerberg stars in the mobile industry's biggest fair, fresh from his $19 billion (14-billion-euro) takeover of smartphone messenger WhatsApp.
By HT Correspondent | AFP, Barcelona
UPDATED ON FEB 24, 2014 11:54 AM IST

Billionaire 29-year-old Facebook founder Mark Zuckerberg stars in the mobile industry's biggest fair Monday, fresh from his $19 billion (14-billion-euro) takeover of smartphone messenger WhatsApp.

The keynote speaker on the opening day of the February 24-27 Mobile World Congress in Barcelona, Spain, Zuckerberg has come a long way in the mobile world in a short time.

When Facebook sold its shares to the public in an initial public offering in May 2012, "it literally had no mobile advertising revenues," said Eden Zoller, analyst at the research house Ovum.

"It did actually have a pretty strong mobile user base at IPO but what it had failed to do at that time was actually monetise those mobile users," she said.

Read: Will WhatsApp go the Hotmail way?

At the time of the float, worries over the lack of money coming in from the mobile business sent Facebook's shares sliding.

But the social network -- boasting more than 1.2 billion members -- quickly repaired its strategy.

By the end of 2013, mobile devices accounted for 53 percent of Facebook's advertising revenue, bringing in $1.2 billion in the last quarter and more than $3 billion over the whole year.

However mobile advertising can be "highly intrusive", Zoller cautioned, especially if it interrupts a user's engagement with an application.

"You have to be very careful."

Nevertheless, the social network needs to keep up the momentum, the analyst said.

Read: Is Facebook's $19 billion price tag for WhatsApp justified?

"It can't be complacent. On the mobile front it is particularly important. Consumers have an increasing number of social media and social messaging alternatives to Facebook."

The company still has a weak point, however, she added: its failure to carve out a strong position in mobile payment systems, which are expected to show strong growth in the next few years.

Nonetheless, Facebook is clearly building a base for further revenue growth.

On Wednesday, the social network announced its takeover of WhatsApp, which followed last year's smaller purchase of online photograph-sharing site Instagram.

Facebook CEO Mark Zuckerberg speaks at Facebook headquarters in Menlo Park, California. (AP photo)
</div)
Facebook CEO Mark Zuckerberg speaks at Facebook headquarters in Menlo Park, California. (AP photo)

Half a billion users on WhatsApp
"Facebook is paying for one of the fastest growing audiences in history -- WhatsApp is now nearing half a billion users globally -- and the monetisation potential that that brings," said Guillermo Escofet of research house Informa.

Facebook has captured 18.4 percent of the mobile publicity market, making it the number two force after Google, according to digital media analysts eMarketer.

"They performed a remarkable turnaround from about two years ago," said Escofet, recalling the social network's early reluctance to push advertising to mobile devices.

"The reason for that is because they did not want to compromise the user experience on mobile and they did not want to cram the small mobile screen with ads," he said.

Read:10 things to know about WhatsApp and its future with Facebook

Facebook's solution was to integrate advertising into its users' news stream, where members read the latest events in their "friends"' lives.

It has proven an efficient strategy. Of Facebook's 1.23 billion users who are active at least once a month, three-quarters access the site from their smartphones.

Today, it is a "mobile company", declared Sephi Shapira, chief executive of advertising platform MassiveImpact, a Facebook partner.

"We are very happy with them," he said.

MassiveImpact's clients publicise on Facebook but only pay when a user clicks on the advertisement and then actually buys the product.

For products such as insurance, the percentage of users who make a purchase after clicking on a web advertisement is often in single digits, but for mobile apps that figure can rise to 20 or 30 percent.

"For app promotion, I think they're definitely the best," Shapira said.

Many advertisers now devote all their publicity to mobile devices, not even spending on Internet advertising, he said.

But "I think we should not get too excited," Shapira cautioned.

"You have to run just to stay alive. So in this market, you have to constantly be innovating and developing new technologies just to survive, if you don't, you disappear."

SHARE THIS ARTICLE ON
Close
A Bharti Airtel office building is pictured in Gurugram on the outskirts of New Delhi, India.(Reuters)
A Bharti Airtel office building is pictured in Gurugram on the outskirts of New Delhi, India.(Reuters)

Bharti Airtel buys airwaves worth $2.6 billion at spectrum auction

Bloomberg
PUBLISHED ON MAR 02, 2021 04:03 PM IST
The carrier, led by billionaire Sunil Mittal, acquired 355.45 megahertz airwaves across multiple spectrum bands for 186.99 billion rupees ($2.55 billion), according to a statement from the company Tuesday.
Close
While traversing its journey from 549 to 50,000, the Sensex, up 91 times, has delivered 13.6% CAGR (compounded annual growth rate) returns in the last 35 years, say analysts.mint(MINT_PRINT)
While traversing its journey from 549 to 50,000, the Sensex, up 91 times, has delivered 13.6% CAGR (compounded annual growth rate) returns in the last 35 years, say analysts.mint(MINT_PRINT)

Sensex ends 447 points up, Nifty settles above 14,900

UPDATED ON MAR 02, 2021 04:03 PM IST
  • The 30-share index swung nearly 633 points during the session, before ending at 50,296.89, showing a rise of 447.05 points or 0.90 per cent.
Close
India, according to the Forum, needs ingenious global partnerships and heavy investments from new partners of growth which can only happen when the government creates a more enabling tax regime and a progressive personal taxation structure. (Representational Image)(Getty Images/iStockphoto)
India, according to the Forum, needs ingenious global partnerships and heavy investments from new partners of growth which can only happen when the government creates a more enabling tax regime and a progressive personal taxation structure. (Representational Image)(Getty Images/iStockphoto)

Foreign Investors Forum urge relaxation of tax norms for foreign nationals India

PTI
PUBLISHED ON MAR 02, 2021 03:01 PM IST
Under the current Income Tax provisions, the global income of foreigners is taxed if they stay in India for more than 182 days in a year, thus increasing their personal tax liability in the country.
Close
Arvind Panagariya, former vice-chairman of NITI Aayog in New Delhi, India.(HT Photo)
Arvind Panagariya, former vice-chairman of NITI Aayog in New Delhi, India.(HT Photo)

Indian economy on 'upswing,' says ex-NITI Aayog vice chairman Arvind Panagariya

PTI
PUBLISHED ON MAR 02, 2021 02:53 PM IST
In an interview with PTI, Panagariya also said that the government's plans for increased spending comes in the backdrop of pro-growth reforms.
Close
More than 4 in 5 (86 per cent) Indians stated that they were negatively impacted by the pandemic while 9 in 10 said they were affected by the coronavirus pandemic in terms of job retrenchment, pay cuts, and reduced working hours.(Shutterstock)
More than 4 in 5 (86 per cent) Indians stated that they were negatively impacted by the pandemic while 9 in 10 said they were affected by the coronavirus pandemic in terms of job retrenchment, pay cuts, and reduced working hours.(Shutterstock)

85% of Indian women miss out on a raise, promotion because of gender: Report

By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON MAR 02, 2021 02:48 PM IST
More than 7 in 10 working women and working mothers feel that managing familial responsibilities often come in their way of career development, the LinkedIn Opportunity Index 2021 shows.
Close
Goldman had just entrusted Ismail and Stark with bigger roles. Ismail formally assumed control of the consumer arm -- known as Marcus -- at the beginning of the year.(REUTERS)
Goldman had just entrusted Ismail and Stark with bigger roles. Ismail formally assumed control of the consumer arm -- known as Marcus -- at the beginning of the year.(REUTERS)

Goldman raises 12-month commodities returns forecast to 15.5%

Reuters
PUBLISHED ON MAR 02, 2021 02:39 PM IST
The Wall Street bank also forecast returns of 6.2% and 15.1% on commodities over three- and six-months respectively on the S&P/GSCI Goldman Sachs Commodity Index (GSCI) in a note dated Monday.
Close
Grocery is the next big frontier for online shopping and is a key focus area for Flipkart to bring new customers online," the company added.(Bloomberg)
Grocery is the next big frontier for online shopping and is a key focus area for Flipkart to bring new customers online," the company added.(Bloomberg)

Walmart's Flipkart expands grocery sales to more Indian cities

Reuters, Bengaluru
PUBLISHED ON MAR 02, 2021 01:09 PM IST
  • Flipkart has already expanded online grocery sales to more than 50 Indian cities and intends to reach over 70 locations in the next six months.
Close
A petrol pump attendant filling fuel into a vehicle in New Delhi.(Amal KS/ Hindustan Times)
A petrol pump attendant filling fuel into a vehicle in New Delhi.(Amal KS/ Hindustan Times)

Petrol and diesel prices in your city today, check here

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 02, 2021 12:51 PM IST
Here’s what you pay for a litre of petrol and diesel in your city on March 2
Close
Finance firms have announced that about 7,600 jobs will move from the UK to the bloc Photographer: Patrick Bolger/Bloomberg(Bloomberg)
Finance firms have announced that about 7,600 jobs will move from the UK to the bloc Photographer: Patrick Bolger/Bloomberg(Bloomberg)

Dublin is top relocation spot for finance firms leaving London after Brexit

Bloomberg
PUBLISHED ON MAR 02, 2021 12:34 PM IST
  • Three dozen financial services firms are considering moving some UK operations to the Irish capital, or have already done so.
Close
FILE - In this Feb. 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. Volvo says it will make only electric vehicles by 2030. But for those who want one, they will have to buy it online. The Swedish automaker said Tuesday, March 2, 2021, that it is phasing out the production of all cars with internal combustion engines — including hybrids. (AP Photo/Virginia Mayo, File)(AP)
FILE - In this Feb. 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. Volvo says it will make only electric vehicles by 2030. But for those who want one, they will have to buy it online. The Swedish automaker said Tuesday, March 2, 2021, that it is phasing out the production of all cars with internal combustion engines — including hybrids. (AP Photo/Virginia Mayo, File)(AP)

Volvo cars to go electric-only and shift sales online from 2030

Bloomberg
PUBLISHED ON MAR 02, 2021 12:05 PM IST
  • With the support of its Chinese owners, Volvo has ramped up investment in electric cars since 2017
Close
Through the IPO, the company is making a fresh issue of shares aggregating up to <span class='webrupee'>₹</span>116 crore.(AP/ Representational)
Through the IPO, the company is making a fresh issue of shares aggregating up to 116 crore.(AP/ Representational)

MTAR Technologies IPO opens tomorrow: 10 points

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 02, 2021 11:59 AM IST
According to the company’s prospectus, proceeds from the fresh issue will be used for repayment or pre-payment of its borrowings and funding working capital requirements.
Close
While its price has risen significantly over the past year, bitcoin remains highly volatile. The virtual currency smashed through $58,000 on Feb. 21 then fell back by as much as 25%.(MINT File photo )
While its price has risen significantly over the past year, bitcoin remains highly volatile. The virtual currency smashed through $58,000 on Feb. 21 then fell back by as much as 25%.(MINT File photo )

CBOE seeks approval from US Security & Exchange commission to list Bitcoin ETF

Reuters
PUBLISHED ON MAR 02, 2021 11:52 AM IST
The filing came as Citi analysts said the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trades.
Close
On Monday, the rupee had settled at 73.55 against the American currency.(Mint)
On Monday, the rupee had settled at 73.55 against the American currency.(Mint)

Rupee surges 24 paise to 73.31 against US dollar in early trade

PTI, Mumbai
PUBLISHED ON MAR 02, 2021 10:56 AM IST
At the interbank forex market, the local unit opened at 73.32 against the US dollar, then inched higher to 73.31 against the greenback, registering a rise of 24 paise over its previous close.
Close
DIPAM in December had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India.(File photo)
DIPAM in December had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India.(File photo)

Privatisation: Govt gets multiple bids for Shipping corporation of India's

PTI
PUBLISHED ON MAR 02, 2021 10:51 AM IST
The Cabinet had in November last year given an in-principle approval for strategic divestment of Shipping Corp and Container Corp of India Ltd. However, the plans were delayed due to the pandemic.
Close
BPCL share sale is essential for meeting the government’s record <span class='webrupee'>₹</span>2.1 trillion divestment target that the finance ministry announced in the budget for 2020-21.
BPCL share sale is essential for meeting the government’s record 2.1 trillion divestment target that the finance ministry announced in the budget for 2020-21.

Disinvestment: BPCL to sell Numaligarh Refinery stake for 9,876 cr

PTI
PUBLISHED ON MAR 02, 2021 10:40 AM IST
In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
Close
SHARE
Story Saved
OPEN APP